Michigan Administrative Code (Last Updated: November 16, 2016) |
Department IF. Insurance and Financial Services |
Insurance |
Chapter Replacement of Life Insurance Policies |
Section 500.612. Grounds of eligibility.
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(1) The commissioner shall not issue a certificate of eligibility to a group having no logical reason for existence except to fraction or partition a risk.
(3) The commissioner shall not issue a certificate of eligibility if the insurance is not to be available to all members of the group who are not excluded under the provisions of the insurer's acceptability criteria for the group.
History: 1979 AC; 1997 AACS.